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. melissa: that was quick end to the point. at the career of being taxed without representation right now. that is all the "money" we have for you today. we'll see you back here tomorrow. gerri willis is up next. ♪ gerri: hello, everybody. i'm gerri willis. tonight on "the willis report". >> is hello kitty really terrifying to some of us? why is one pennsylvania kindergartner in big trouble over his toy gun that only shoots out bubbles? we will have the details on this extraordinary case next. and as president obama celebrates his inauguration day, what will another four years mean for us? >> new ideas and technology. >> that, if you have just a cold? died missing themselves instead of going to the actual doctor. but is this safe? we will ask dr. mitchell brooks. "the willis report" is on the case. gerri: tonight stop -- top story takes us to a suburb located about 90 miles northwest of philadelphia. officials at an elementary school have suspended a five year-old girl over what they called terrorist threats. after the kindergartner reportedly told a classmate that she wanted to share w
term at higher taxes, a burden for every american. could they bring an end to the career of one of my favorite golf first? find that next. ♪ aww man. [ male announcer ] returns are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thanyou. ♪ overmany discounts to thine customs! [old english accent] safe driver, multcar, paid in full -- a most fulsome bounty indeed, lord jamie. thou cometand we thy saveth! what are you doing? we doth offer so many discounts, we have some to spare. oh, you have any of those homeowners discounts? here we go. thank you. he took my shield, my lady. these are troubling times in the kingdom. moreiscounts than we knoweth what to do with. now that's progressive. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorni
: president obama, sworn in yesterday, promising to change the tax code, immigration laws, and act on climate change. good morning, everyone. we will spend the first part of this morning's "washington journal" on yesterday's inaugural address. for democrats, 202-585-3880. for republicans, 202-585-3881. for independents, 202-585-3882. also, send us a tweet, twitter.com/c-spanwj. post your comments on facebook, or you can e-mail us. journal@c-span.org. let me begin this morning, this is "the wall street journal," had line. "obama vows aggressive agenda." "he is looking beyond the fiscal battle set to dominate the coming weeks." and then a side story, an analysis. "the president is set to fight over a new to do list." "the inauguration was not only grayer, he sounded less like a man ready for lofty flights and more ready for ground battles." and then here is "the washington post," this morning. there had lyme, "we must act." -- there had line, "we must act -- their headline, "we must act." "the new york times," this morning, "a limitless vision." "speech gives quiet goals center stage." "our jou
's capitol. >> talk a little bit about the potential for more tax hikes. with house republicans talking about that and a leading democrat coming out saying that congress needs more money in order to reach the numbers they have to get to. he says there is really no way around that except higher taxes. here is charles schumer. >> $1.7 trillion in cuts. we've done $600 billion in revenues. you will need more revenues as well as more cuts to get the deficit down. we're going to do a budget this year and it will have revenues in it and our republican colleagues better get used to that fact. martha: promise, promises right? they will do a budget this year. we haven't seen one in how long? stuart varney the anchor of "varney & company". how many years has it been now? >> i believe it is 3 1/2 years. we go through the tax debate. we thought we got higher taxes on the rich and it was over, not so. senator schumer and fellow democrats are proposing yet higher taxes on the rich, more taxes on oil and gas companies and taxes on profits that american corporations makeover seas. so that is three big areas
well in our society and those who are not suggesting he may not be done taxing the well-to-do on the heels of chuck schumer over the weekend saying that the senate will produce a budget and it will include higher taxes on the wealthy and republicans may not like it but paraphrasing they just have to deal with that. what do you think of that? >> well, i fundamentally disagree. i don't think most americans would say to give more money to washington to have washington spend their money is a way to help anyone. we identify with those who have not experienced upward mobility and want to help those who need a safety net and provide the relief and save the programs and give them some opportunity working through areas on education, hopefully, the white house will finally join us in some of thosests, and there are all kinds of things and workforce training and others that we can find common ground on depending on whether the mood today lasts. >>neil: do you get a sense they are leery, the dims, to go too crazy on spending cuts. the president told president obama he sees it as a h
of taxes is also now getting some buzz. and new controversy over reports that federal agents waited to arrest an illegal immigrant and a sex offender who worked for this powerful democratic senator, senator menendez, you saw in that picture there. what, what really went on? why was this done? an early morning rescue puts a whole new meaning on another brick in the wall. as firefighters-- did you watch this on america's news room with bill and martha? firefighters worked hours to free a woman who got stuck in a tight spot, how it happened. ♪ ♪ caught between a rock and a hard place ♪ bayer aspirin was the first thing the emts gave me. now, i'm on a bayer aspirin regimen. [ male announcer ] be sure to talk to your doctor before you begin an aspirin regimen. [ woman ] learn from my story. before you begin an aspirin regimen. music: "make someone happy" music: "make someone happy" ♪it's so important to make someone happy.♪ it's so important to make meone happy.♪ ♪make just one someone happy ♪and you will be happy too. hi, i'm ensure clear... clear, huh? i'm not juice or
is it will increase -- by not raising the debt ceiling, you should be able to raise taxes on the wealthy, making $200,000 a year or more. host: ok. anthony in greensboro, north carolina, independent. caller: good morning. i have done quite a bit of research on the debt. what i don't hear from anybody, whether from the politicians or people asking questions, is the fact that the united states over the last 10 or 15 years has overwhelmingly started bases all over the world. over 1200 bases. and i cannot get a direct answer to actually how many. each would bring in the amount of money well over $1 trillion in just the maintenance. along with that, on the far side, after deep search, i discovered that the united states in the last eight years, since 1998, i believe, through nasa, they have come to believe in some kind of solar scenario along with an economic scenario and have been spending a lot of money in creating bases or underground cities in preparation, which is understandable, as any other nation, including japan and china have been doing themselves. host: next we will hear from a democratic calle
it was put in place. we just raise tax rates on the well-off so we are doing this in pieces off. declaring victory more angry at each other than they were before and making it harder to do the remaining policies is so we know what we have left we know what we have to the health care cost which the truth is we don't know how to fix the system in its entirety. we have to keep looking at ways to control health care cost and the government programs and medicare and we are going to have to go back and do this every couple of years but we have to study what works and put more of the policies that are working in place. we have to deal with our other entitlement. it's a contentious issue in this country. it's always a political tough battle. but the longer we wait to make the changes for the people the difference of the programs there is no question about that and we have to go forward with tax reform which is great when you talk about it broadly we all know the tax code is a disaster and none of us like the tax code. when you talk about the ability to broaden the base, lower the rate and raise re
on various things with regard to economic reform, tax reform, immigration reform. i think that there's little doubt the president would be willing to compromise if the other party is willing to meet him part of the way. the other party job is to see how much it came at for its side and giving the issues we've been through, such as the fiscal cliff, the fact is there's no way out of these issues without compromise. i do think we will see compromise on something like immigration reform because democrat fixes destiny and the republicans as well as democrats recognize that they have to show some support for immigration reform if they're not going to in the case of republicans, lose the hispanic population permanently to the republican party. so the president has already, i believe, shown willingness to compromise and all that data show that republicans are the party has moved further to the right and democrats have moved to the left, although both have moved to the extreme. i think we're going to see the president because he won the election been tough for rhetorically about not compromising, alt
the fiscal cliff and the concerns of mayors regarding both investment programs and tax-exempt financing. whenever there's a major issue that demands attention, again and again and again, vice president joe biden has shown the leadership and courage needed to help move our nation in the right direction. and that is why i was certainly hartened when president obama asked vice president biden to lead a special task force to develop responses to the tragedy not only at sandy hook elementary school, but the daily tragedies we see all across america. the nation's mayors and vice president biden have stood together for many, many years in support of public safety. after all, it was then-senator joe biden who championed the crime bill, which established the cops program and included the ban on assault weapons and large-capacity magazines, which congress unfortunately, allowed to expire. yesterday, i was personally very proud to be in the white house as president obama and vice president biden unveiled a strong, comprehensive package of legislative and regulatory reforms needed to response to th
on your debt. well we have 2 1/2 trillion dollars coming into the treasury every year in tax revenue. we can use that tax revenue to pay the interest on our debt. therefore, we will not default. all this talk about being a deadbeat nation, that belies the fact that we have never, and will never default on our obligations. the obligation being to pay the interest on the debt. we're not a deadbeat nation and we're not going to default, period. yes. period. martha: comes down to the big question whether or not you will cut spending in order to not default on your debt. and that brings us to a larger question or one of the larger questions, which is whether or not we will be downgraded if we don't become more responsible with our spending? >> interesting you should raise that issue, martha, because 45 minutes ago, fitch, the ratings agency said, if we have another delay in raising this debt ceilingsing, if we have this political standoff again just like we had in 2011, fitch says we may be downgraded. his name is david reilly. he is managing director at fitch and he said if it is just like 2
's already too much uncertainty in our tax structure to be doing this again in three months adds to the uncertainty. there are other thoughts as well. twitter available to you, too. stuart, you are up first. good morning. caller: this goes along with the war on weapons. what congress needs to talk about is the everyday city crime, the shootings among drug dealers, the prison industrial complex, what ron paul and ralph nader talk about. real solutions to the debt limit and taxation of illegal drugs, at least marijuana will reduce the deficit, increase revenue, increase jobs. decrease crime in half. host: so what do you think about the strategy from house republicans? what do you think specifically on this as a strategy? caller: i think it's just a big joke. without new revenue. they know. they don't care that we're going down the tubes. they don't care about sese quest ration. now they are talking about the construction industry is going crazy. we need more cheap labor from third world countries. like that's going to help. host: ela is on our democrats line from charlotte, south c
authority is necessary. but there are some others. >> guest: some other examples. let's take corporate tax. it seems likely there will be a year long debate about corporate taxation here in washington in 2013. most businesses are global in some respect. not all but most big businesses for sure. if you're a big business and you look over to champion you'll -- over to china, you'll see promises to have 15% corporate income tax rate. you come the united states, you have no predictable, don't know what it is, and the current rate is much, much higher than that. we need reforms that say to businesses, we want you to invest here in the united states. while we're having this big debate about corporate tax reform, let's include in it specific reforms for the energy sector that in fact are designed to attract a maximum amount of new investment to build a clean energy platform let's have it by a subpart of the corporate tax reform debate. another example? the carbon tax. the carbon tax is a broad-based tax that does not in fact have to have a big impact on consumers. it could be placed on electric u
and said it much better than i will, in fact, maybe if you had it on tape, we'd show it. but tax policy and trade policy. obviously, as the recession hits the world, why, trade policy gets more difficult. and we have troubles getting products into two of our most fast-growing markets, in argentina and brazil, which we could use some government help on keeping those markets open. and, of course, the big one is tax policy. we have the highest corporate tax rate in the world. so that mark barker who is now the ceo of the company and for a young whippersnapper of 55, he's doing a great job, but that he sits every year when he sets the budget, and he has to decide where the last dollar of investment goes. and where it generates the last dollar of profit. so he could get a dollar of profit in the united states for which 60 cents goes out to the shareholder, to the ultimate shareholder. or he can get another dollar, he can get that dollar profit in timbuktu of which 75 cents comes to the average shareholder. so any global company can maneuver around it, procter & gamble does that, i'm sure, be
that we were and prompted a very dangerous trend of undermining significant development in tax achieving all around the world. and there are a lot of geoscientists of course, but also the very strong understanding the climate change is not only happening, but have been happening for a long time and i was going to be a clear determining for future disaster risk evolution. so the organization i represent is a relatively modest office, but what is not modest i would say is the international partnership is built around the international strategy for design to your reduction, they said thierry, which has one foot in the u.n. and one and the rest of the world. we can only build on science. you have to work with government supporters business, parliamentarians, with any stakeholder that understands and is willing to engage in education and managing risk for the future. the first product to the first idea that people that got together in the early parts of the decade serenade instrument for international cooperation. that is key here. they started working on what became the framework for action.
is a tax credit that was part of the economic stimulus originally, he sought $500 and i think ultimately, law was less than that. that was a classic compromise that he did not get. another compromise was his promise to repeal the bush tax cuts for higher income. his goal was couples making more than 200th $50,000 or couples making $200,000 and the fiscal cliff deal did not achieve that. we rented that a compromise. let's go to fort lauderdale,. caller: with respect to not keeping a promise for negotiations with a health kicce -- i think that a somewhat wrong. i have watched the other representatives of congress on tv every day negotiating and debating and putting their facts together. the final decision between nancy pelosi and the head of the sun -- of the senate when they finally came out with exactly what the bill would be -- it was done behind closed doors. the putting together of the bills, people putting in their amendments, was actually done on cspan every day and i watched that. secondly, with respect to these people calling about taking away guns. there is nothing about taking a
with this initiative. congress and the administration should begin conversation about a broad-based carbon tax. this would give the right signals on energy sources and use. it could raise money to reduce the deficit, restore our infrastructure, speed and finance conservation. there are a number of other commonsense steps that would make progress on carbon pollution and energy conservation goals more significant. the epa should stop dragging its feet permitting old coal plants to continue to spew forth toxic waste, harming the environment and the health of our citizens. it is past time the clean air act reinforced. make sure there are proper safeguards for the cracking technology. make sure this reservoir of inexpensive gas does not undercut the addition of renewables to our energy portfolio. solar, wind, geothermal. dership on these technologies for a balanced energy portfolio and ultimately to reduce our carbon footprint. at each step, we should be looking to enhance energy conservation, because the cheapest kilowatt hour is one that you don't have to generate. we should have a 10-year glide
. if the house is going to be serious about a 10-year plan, it's time with bring a tax bill to the floor. i think it would have helped us in the election if we'd run a tax bill on the floor and actually run a medicare bill. last year's budget was i think about one page. not even one page. there's a lot more heavy lifting than a one-page tax plan. i think republicans could do ourselves good by striking out prorkviding leadership, outlining what a breath program looks like, same with the house and other entitlement reform. let's secure medicare, medicaid, sos and it's one thing to have a paragraph in the budget and another to pass things on the floor. i think it's time we took that chance and put out what we're for in a detailed manner. these are serious times. it's not about gains before the next election. it's gains with our credit worthiness long-term. >> i think it's important to point out that one of the reasons leadership may be able to shorten the years to balance is buzz of the recent tax increases. so it's not just a structural change in what we're doing, it's that there have been tax incr
nothing to do with our inability to govern our own spending and taxes. but anytime one tries to hold it, that is when it is wrong. whatever you want to call it, when you have a moral and constitutional obligation you shouldn't mix it up with things you want to do politically. i come back to you, there is the see quester that was done in late 2011. and on top of that, we have to have a continuing resolution to let the government run. my suggestion is that you give yourself time to get that done. >> maybe we can rise beyond some of our constituentsys which are screaming in our ears don't compromise. >> maybe you can change the order that these fall. if you want to line up where you are spendingwise. but i have to disagree with my buddy charlie and i think the moral obligation here and the way that you keep us from being downgraded how do we tell the markets that we are doing something to tell the debt curve what it is about to do to the country. >> if it looks like you are trying to parcel out, there are 80 million payment accounts in the american government and you are rying to give out
, pay taxes, do all the other things. we transferred one of our cars to one of our sons here recently. we had to go through the motor vehicle department transfer, whatever. why somebody should be able to go into a gun show and buy any kind of a thing without any kind of the background check you might have otherwise, at least -- i -- at least not an enforceable one, i can't understand that. i really can't. i think we should have stricter background checks. i think they should be real ones. if you have the restraining orders on you, other things, we ought to be able to do that. i realize every state's different. vermont has virtually no gun laws. you can carry loaded concealed weapon in vermont this afternoon if you were there with no permit. we also have one of the lowest crime rates in the country but not because of that. we are as a society we are very law-abiding, but would that stop somebody who is mentally unhinged from going out and using a gun, knife, or anything else to kill people? no. the president's right when he says there are a whole lot of factors involved. i'm anxious to
mentioned though bipartisan issues and republican issues such as revamping the tax code and reducing deficits, but he signalled split decisions in an era of divided government. >> progress does not compel us to settle. centuries long debates about the role of government for all time, but it does require us to act in our time. [applause] >> for now decisions are upon us. and we cannot afford to wait. we cannot mistake absolutism for principle or substitute spectacle for politics or treat name calling as reasoned debate. [applause] >> we must act. we must act knowing that our work will be unperfect. we must act knowing that today's victories will be only partial. peter: top republicans issued bipartisan statements in the spirit of the day, but mitch mcconnell, the senate republican leader called federal spending and the debt the transcendent challenge of the great challenges of our day. david: was it president harrison who had a two hour speech at his inauguration that he caught pneumonia. this was one of the quickest speeches i have ever seen before. but bottom line here, the presiden
not want to do it. he actually does want to negotiate on spending and tax reform. what he does not want to do is have that take place when the republican position on the debt takes the economy hostage. that is off the table. i think the president is smart to be firm and clear on that. next time it would be democrats if we had a republican president. ashley: would you agree, i know it is out of your area, but the senate has not passed a budget in four years now. would you agree with republicans that it is not the way to go and i could, in fact, be breaking the law without i do agree with them. we actually have not passed the budget. i am with them on this concern about our inability to actually do the basic work that a legislature must do. ashley: i know bernanke, timothy geithner, rating agencies and many more states what is the point of a debt ceiling? we routinely raise it anyway. what is the purpose? >> there is no purpose. the debt ceiling has become a device for fiscal irresponsibility. republicans and democrats both dated. senator obama voted against the debt ceiling increase. if
on the republicans in the house over spending, gun control immigration, and tax reform. >> he's now got to be the guy in charge, the guy who inspires the american people, and who gets them behind his principles and his policies. >> reporter: but this weekend as he takes the oath on bibles which belonged to president lincoln and dr. king president obama wants to remind the nation of its traditions. >> the inauguration reminds us of the role that we have as fellow citizens in promoting a common good. >> reporter: now today is a day of service in honor of dr. king. monday, the swearing in, the celebration, and then when the party's over after the inaugural balls on monday night, it will be back to the same battles and the hope that it won't be just business as usual. rebecca, anthony? >> bill plante at the white house. thank you, bill. >>> while the president's opponents are observing the traditional truths to the inauguration, can president obama hope for a new term. let's talk with debbie wassermann schultz. >> good morning. thanks for having me. >> congresswoman
. but there are enormous complexities in the tax accounting and operational challenge. can you say what your thinking is in that area? >> now that i have a voice again with some water, jet lag and a cold, you can't hold me back. money market funds will be one of the primary issues that the commission tackles in the coming months. you know, the process is under way, but quite frankly, we at the commission can and have been proceeding without too much reference to what's going on, and i think there is a new spirit at the commission working with the staff, industry and amongst the commissioners and the consensus that we need to take some action. obviously, there has been a lot of press about potentials involving the float. i have expressed that would be a great avenue to explore, recognizing, as you point out, there are pretty serious tax and accounting issues that have to be addressed and haven't been addressed even though this has been going around the industry for four, five years. on the accounting front, i'm hopeful that as the commission has authority over it, we can figure something out there, if
and keep going -- it needs to bring millions of people with it. the robin hood tax, the campaign the nurses have -- $350 billion a year from wall street for a minimum tax. you know what one of the legislator said to one of our nurses going to the capitol and talking about the wall street tax? she said, you nurses need to lower your expectations. the nurse looked at her and said, would you like for me to say that to you when i am prepare you for surgery? the true story. i mean, honestly, literally, it is a disgrace -- lower your expectations? i see what is happening out here every day. we're not going to lower our expectations. we're going to fight for a real economy. our economy has been hijacked -- we can talk about all the problems, talk endlessly about what i heard yesterday -- i heard about a woman yesterday. we heard about a real woman yesterday from michigan who actually chose to have her leg amputated because she could not afford the antibiotics in terms of taking care of her leg. she had her leg amputated because of money, because of money, because we do not have a health care syste
. mr. wilson:section 8 the congress shall have power to lay and collect taxes, duties, imposts, and excises, to pay the debts and provide for the common defense and general welfare of the united states, but all duties, imposts, and excises shall be uniform throughout the united states, mr. goodlatte: i now yield to the gentleman from texas, mr. green. mr. green: to borrow money on the credit of the united states, to regulate commerce with foreign nations, and among the several states, and with the indian tribes, to establish an uniform rule of naturalization, and uniform laws on the subject of bankruptcies throughout the united states, mr. goodlatte: i now yield to the gentleman from florida, mr. nugent. mr. nugent:to coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures, to provide for the punishment of counterfeiting the securities and current coin of the united states, to establish post offices and post roads, to promote the progress of science and useful arts, by securing for limited times to authors and inventors the excl
it was fantastic speech. >> it wasn't a liberal speech. we'll tax any estates over $1 million. we're going to put a carbon tax on any carbon. we're going to legalized drugs marijuana for recreational use. we're going to cut the defense in half and send all those dollars to fund schools. that's a liberal speech. we didn't hear that. >> michael: well, he's not going to say all those things. he's not going to decriminalize heroin. >> good point. it would make things funner there. >> michael: it might. some seem to be on it, actually. the idea though, that he was going to say those. this is where he said we and cited great victories in the civil rights movement, not just civil rights but stone wall, women's rights and gay rights. >> the right to vote. >> michael: it was a very clever speech. he we have in martin luther king jr.'s speech. >> from the left and the right. from folks news to the nation claim this was a liberals coming out speech. it just wasn't. if this was a liberal speech yesterday then the conservatives really have won the debate. they have taken mainstream ideas ideas, and titled th
tax fraud has ballooned in recent years. the report comes from the treasury inspector general for tax administration. it finds that in 2010 more than 91,000 inmates claimed more than $758 million in fraudulent refunds. that's more than double the year before. the i rest stopped most of the fraudulent refunds from actually getting into the hands of prisoners but $35 million still slipped through the cracks. and a number of fraudulent prisoner tax refunds continue to increase in 2011. and 2012. but the irs has yet to put a number on these bogus refunds. it is amazing how this can happen. >> unbelievable. >> time to do a little bit more organizing apparently. >> don't send tax refund paperwork and forms to prisons. that might be a good way to stop that. >> if the address says -- >> you have to be clear. >> thanks jess. >>> christopher kennedy lawford is here to talk about the new book about recovery. and the book signing he's having in our area tonight. >> there they are in our green room. former congressman patrick kennedy also here to [ ma aouer wenvedom tsee thnosorey ut abt eibo whe
the eligibility age and by not increasing taxes subject to the social security payroll tax. it would scale back benefits for wealthier recipients. taking a look at friday's closing numbers. stocks closing the day mostly in the green. the dow closed at a five-year high. the markets are closed today for the martin luther king jr. holiday. it looks like it is better to be single, at least in the financial sense. taxpayers will see the federal tax rates rise this year on wages and investments. the increase will pinch married customers faster than individuals, especially if both spouses work and have capital gains. this is the bloomberg business report. >> with the phony girlfriend story and talk about internet hoaxes, some say now was the time to have a talk about staying safe. >> experts say be careful. >> we need to be aware and need them to use the right types of tools to protect themselves and the kids around them. >> even if you're not interested in a hoax, seize the moment to teach your children. >> it is a good teaching tool. i'm sorry that it had to happen to this young man. i am using the
social security and medicare by raising the eligible age by not increasing taxes subject to the social security payroll tax. scale back benefits for wealthier recipients. stock's closing the day mostly in the green. the markets are closed today for the martin luther king jr. holiday. it looks like it is better to be single, at least in the financial sense. taxpayers will see the federal tax rates rise this year on wages and investments. the increase will pinch mary customers faster than individuals especially if both spouses work and have capital gains. >> it took 32 seconds for the president to begin his second term. a national celebration to welcome back america's president. tracie potts has more when the ceremony gets under way. >> i barack hussain obama -- >> president obama takes the stage this morning having already been sworn in yesterday. >> the last one was kind of fast. we'll take some time to enjoy it. >> hundreds of thousands witness the second inauguration of america's first black president. >> it means a whole lot. >> despite tough approval ratings, president obama still
that? is there enough tax generated in the economy to offset that? and would disaster occurs are you on the hook for off infrastructure and everything else that may be required to rebuild that community? and asia return on that exposure -- is your return greater? as a taxpayer, the answer is unfortunately too often know. we have subsidize risks to the point where as long as no extreme event occurs, it seems okay. but when the extreme event occurs, you are now exposed to much greater costs without necessary generating revenue or other societal benefits off that risk. now, during the '70s and '80s and through the early '90s, went a lot of growth was taking place in coastal areas and other vulnerable areas, very few storms were occurring. frequency was down. so the allusion was i have lived here for 30 years, this never happens. welcome the problem with climate whether it's 30 year cycles are like an eyelash in understanding how big systems and dynamics work. not talking at any of the forcing issues, and now we find ourselves in this period of increased activity and you are sitting on t
. but there are enormous complexities that we have been lamenting in this, such as the tax and accounting and operational challenge. can you say more about what your thinking is in that area? >> now that i have a voice again with some water nothing that the jet lag and set me back. yes, i think that money market funds would be one of the primary issues that the commission temple. the process is obviously underway. i think that we have been preceding without too much reverence to what is going on. and i think that there is sort of a new spirit at the commission working with the staff and industry and amongst the commissioners. the consensus that we need to take some action. honestly there has been a lot of press lately about this. i have expressed my view it would be a great avenue to explore. recognizing, as you pointed out, there are taxing and accounting issues that need to be addressed but have not been addressed, despite the fact that this proposal has been about the industry for the last for five years. only counting front, i am hopeful that the commission has plenty of authority and we can actually
, my budget provides $25 million in further tax relief from the modified business tax for an additional 2,700 businesses. [applause] that means tt since 2011, we will have eliminated the burden of this tax on almost three-quarters of nevada's small -- businesses. [applause] let me be clear. nevada's employers cannot afford higher taxes, and i will not support them. [applause] u and i know that we must continue to address the unemployment in our state, and we must deal with the economic realities thrust upon us. too many of our iendand neighbors are still out of work, and at 10.8%, unemployment is still much too high. against this backdrop, many programs have required modernization, and even the job description of governor has changed. i have led trade missions to and, missions to mexico and israel are planned to expand nevada's global footprint. i am committed to leaving no stone unturned, no road not taken. we must also invest in our nevada's innovators and entrepreneurs. and tonight, i am proud to announce that we will commit $10 million to nevada's knowledge fund to do just that. [ap
taxes, to recover the momentum of our economy and reward the effort and enterprise of working americans. we will build our defenses beyond challenge, lest weakness invite challenge. we will confront weapons of mass destruction, so that a new century is spared new horrors. the enemies of liberty and our country should make no mistake america remains engaged in the world by history and by choice, shaping a balance of power that favors freedom. we will defend our allies and our interests. we will show purpose without arrogance. we will meet aggression and bad faith with resolve and strength. and to all nations, we will speak for the values that gave our nation birth. america, at its best, is compassionate. in the quiet of american conscience, we know that deep, persistent poverty is unworthy of our nation's promise. and whatever our views of its cause, we can agree that children at risk are not at fault. abandonment and abuse are not acts of god, they are failures of love. and the proliferation of prisons, however necessary, is no substitute for hope and order in our souls. where there is
jersey and connecticut, these three states pay almost 16% of the taxes collected in the united states of america. >> some house conservatives favored amendment offered by south carolina mick mulvaney to pay for $17 billion in disaster relief cutting discretionary spending across the board by 1.63%. >> it's important to me that the money goes to the folks who need it very badly. it's so important to me,be that i think we should pay for it. >> the amendment failed. key new york democrat says paying for disaster relief cutting elsewhere would be a first. sandy victims should get their aid. >> i wantbe to repeat this point again. united states of america we respond to disasters. all americans respond to disasters. we don't ask for off-sets. >> with the nation's debt at $16 trillion and counting, conservatives say it isn't about bashing the northeast. it is about saving the country. >> we have to get this under control. most conservatives believe we have to come to a point where we stand and fight. i hope this is the time. >> after president obama said it would be irresponsible and absurd
at their check. i guess it was last week, when they saw the big cut in the social security payroll tax. it was a jump. you have less money now. so many things are affected unfortunately. coming into february, here we are again going to be with spending cuts going to kick in officially. all of this will affect unfortunately the markets. it will be a little rough. the economy is fragile. don't get a deal, jenna. you're looking at recession. fitch knows that. investors know that. we're watching it here at fox business. a little rough. jenna: all right. those are the stakes, recession or not. we'll watch this very closely over next couple weeks. cheryl, thank you. >> you bet. jon: after weeks of delay, secretary of state hillary clinton will testify on capitol hill about the benghazi attack on january 23rd. the secretary will face some tough questions from the house foreign affairs committee about the assault in september that left four americans dead including u.s. ambassador chris stevens. miss clinton was set you would to testify last month but she suffered a concussion falling during i
of march. there is no question that these big fiscal issues, taxes and spending will define the first quarter of the president's second term. >> george, talk about this term, the second term curse. we -- reagan had iran-contra, nixon had watergate. clinton had monica lewinsky. why is it that they tend to go sour. >> lyndon jonls had to resign before he ran because of vietnam. ever since roosevelt and the amendment that limited his terms, presidents tend to run out of steam and maybe even get tripped up by scandal in these second terms. i think it's kind of a natural reaction to the fact that power is moving on beyond these presidents because, in fact, they are lame ducks. the obama white house has studied this very, very closely. they know the perils of the second term. they think they can avoid the worst pitfalls, first of all, they are saying there's no scandals on the horizon but believe they can avoid the worst by having a focused agenda and moving fast. >> we'll see if they can. george, thank you very much. george will have a special inauguration edition of "this week" this morni
a religious organization could own. some taxed religious property. others banned given groups' practices. i'm thinking, for example, eventually various states in the southwest banning polygamy, for example. >> host: so when it came to massachusetts, talk about massachusetts or pennsylvania. of we're here in pennsylvania, as a case study of states regulating religion. >> guest: sure. pennsylvania, for example, had an active blasphemy law which we would nowty of as -- now think of of as starkly unconstitutional. and the last case, um, that was brought, the last criminal prosecution under blasphemy law was actually brought in the early 1970s kind of by accident against someone who had a sign in his window saying something like "wanted: radical carpenter speaks to crowds preaching peace." and, on, this person meant jesus, but someone walking past thought it blasphemous and complained. the american civil liberties union got involved pretty quickly, and the prosecution was dropped. more recently, the, a film company own or tried to name -- owner tried to name his company i choose hell productions
to the needs of our time. we must harvest new ideas and technology that we make our government, revamp our tax cuts come reform our schools, and empower our citizens with the skills they need to work harder and learn more and retire. but -- and reach higher. while the means change, the purpose and doors. a nation that rewards the effort and determination of each and every american, that is what this we believe every citizen deserves a measure of dignity. we must make the hard choices to reduce the cost of health care. we reject the belief that america must choose between caring for the generation that built this country and invested in the generation that will build its future. we remember the lessons of our past. twilight years were spent in poverty. a tablet disability had nowhere to turn. we do not believe that freedom is reserved for the lucky or happiness for the few. we recognize that men matter how responsibly we live our lives any one of us at any of our times may face a job loss or a home slipped away in a terrible storm. the commitments we make to each other do not zap our nation, th
country and does washington have enough? how much more must they take from the hard-working americans, tax paying americans who are trying to put their life together every day. i and my colleagues who spoke earlier today believe that washington has enough. we don't need to give her more. mr. speaker, i yield back the balance of my time. thank you. the chair: under the speaker's announced policy of january 3, 2013, the gentleman from california, mr. garamendi, is recognized for 60 minutes as the designee of the minority leader. mr. garamendi: i thank you, mr. speaker. it's good -- it is very, very good that the new 113th congress acted today to reach out in sympathy, compassion and with real support to the people who were so severely impacted by superstorm sandy. one of our colleagues just a moment ago spoke about this nation being at a crossroads, and indeed, we crossed paths many, many times and there are many different crossroads. the people of pennsylvania, new jersey, new york, connecticut and other parts of this great nation here on the east coast, came to a crossroads. that crossroad
has seen how unfair it is for working families in d.c. to rear children and pay taxes without having a vote in congress. >>> d.c. leaders have been pushing for a little help from the white house for four years, so why this year? >> you know, i think it's because he is not running for re-election again, and doesn't have to worry about it, and you have to give credit where credit is due. people like mark phraugin, and he said it's symbolic, and if you don't do anything else it's symbolic, and he cornered me one day at a rally, and he asked me to bring it up to the president, and i did. and the president looked me straight in the eye and said i don't do symbolism. and i said this goes beyond symbolism. i think what it is, this president is a long-term thicker. he was not going to react then. he had an election coming up. and you get 9% of the vote from washingtons. >> and if the president is into symbolism, his so porters would say it shows that he is being driven in a vehicle that is addressing what many districts, we have no representation in congress and our tax dollars don't go and
know who he is, he's teed off now about taxes and the golfer hints he might be making drastic changes to his golfing schedule by checking out of california or the country because of soaring federal and state income taxes. mickleson says his current tax rate is more than 60%. in the meantime, let's talk about this other story, there's been a lot of discussion about guns in schools, and guns in general after the sandy hook sad situation in december in connecticut. and now there's a kindergarten girl who apparently owns one of these little devices, you look at the screen at hello kitty bubble gun. apparently, she was talking about this toy at school. it's my understanding she actually didn't even have the toy with her at the mt. carmel area school in pennsylvania. as a result of just talking about shooting bubbles at one another, apparently she received a ten-day suspension. it was reduced to two days, but that's kind of unclear now whether or not she should even have faced any kind of suspensi suspension. >> steve: well, this is kind of crazy the two five-year-old girls were waiting at
is the republicans have agreed to raise taxes. they refused to do that for a generation. i think there will be a change on immigration. i think there's potential for bipartisan work on energy. the republican party's got to find its way back to some kind of restoration if it wants to get the white house back if it wants to control the senate again and move beyond the house. the movement they've had on the debt ceiling, democrats would call it gimmicky on some level. but we want to choose our fight difficultly. they want to push the president to deal with the spending problem this government has. you know what? all the polling reflects the fact that they're right. americans want a better economy. they want compromise. they want to cut government spending. so republicans are on the right track there. the question is how do they find a way to pressure the president in a way that's different tanhan what they've done. >> eugene? >> i think the question is whether the republican establishment, such as it is can bring along the rest of the republican party, the tea p
for tax reform by closing loopholes for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we consult the deficit issue without sacrificing our investments in things like education that are going to help us grow. it turns out the american people agree with me. they listened to an entire year's debate over this issue, and they made a clear decision about the approach they prefer. they do not think it is fair to ask a senior to pay more for his or her health care or a scientist to shut down like that saving research so that a multi millionaire investor can take less in tax rates then a second trip -- and a secretary. they do not think it is smart to protect and as corporate loopholes and tax breaks for the wealthiest americans rather than rebuild roads and schools or help manufacturers bring jobs back to america. they want us to get our books in order in a balanced way where everyone pulls their weight, everyone does their part. that is what i want as well. that is what i have proposed. we can get it
and the issues we deal with in the coast and trying to tie that to the tax base and relate that both from a local regional perspective but also a national perspective. when you look at it, 30% of this nation's g.d.p. comes from the gulf coast. you look at the population increase we've had. since 1970, there has been 109% increase in the gulf coast region. the people are there, the vulnerabilities are there but also it is significant to what it provides to the nation. from the states perspective and also from the gulf we recognize that healthy ecosystems also can mean healthy economies. from louisiana, what we have taken -- what we believe is a very good first effort the addressing the vulnerabilities that exist in reducing that risk is with the state's matter of fact plan which is a long- term plan to reduce the economic significance and reduce the risk across the coast. we believe we can achieve protection for all coastal communities. it is that resource that is important. the states provide and the gulf provides to the nation, it if it is going to be afforded through the nation. we believe with
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